Staffing & Culture | 10.22.26

Banks Have Fewer Entry-Level Jobs, but Higher Ranks Are Growing

by: Jo Constantz

Entry-level jobs at U.S. banks have declined nearly 5% since 2022, while mid- and senior-level employment has continued to grow, according to labor-market data firm Revelio Labs. The decline has been sharper in commercial and retail banking than in investment banking and capital markets, raising questions about AI’s impact on routine work. Wells Fargo has reduced employment at both junior and senior levels, while Goldman Sachs has expanded across both. Bank of America says it remains committed to early-career hiring, employing more than 14,000 early-career workers annually over the past two years and expecting similar numbers in 2026. JPMorgan disputes the report’s conclusions, citing unclear methodology and stable junior headcount.

Read the full article on Bloomberg